Forward Air Corporation (FWRD) Earnings History
Annual and quarterly earnings data from 1993 to 2025
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FWRD EPS Growth (CAGR)
Compound annual growth rate of diluted earnings per share
CAGR (Compound Annual Growth Rate) shows the annualized growth rate of EPS over the specified period. A higher CAGR indicates stronger earnings momentum.
FWRD Profitability Analysis
Margin trends over time
| Year | Gross Margin | Operating Margin | Net Margin |
|---|---|---|---|
| 2025 | 20.5% | 1.5% | -4.3% |
| 2024 | 13.7% | -43.0% | -33.0% |
| 2023 | 24.1% | 6.4% | 12.2% |
| 2022 | 29.3% | 14.7% | 11.5% |
| 2021 | 22.6% | 10.6% | 7.6% |
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Forward Air Corporation (FWRD) Earnings Overview
As of May 8, 2026, Forward Air Corporation (FWRD) reported trailing twelve-month net income of -$91M, reflecting +88.3% year-over-year growth. The company earned $-3.48 per diluted share over the past four quarters, with a net profit margin of -4.3%.
Looking at the long-term picture, FWRD's historical earnings data spans multiple years. The company achieved its highest annual net income of $193M in fiscal 2022.
Forward Air Corporation is currently reporting a net loss, though operating performance should be evaluated in the context of growth investments and industry dynamics View revenue history →
Compared to peers including ARCB ($56M net income, 1.5% margin), SAIA ($255M net income, 7.9% margin), ODFL ($1.02B net income, 18.6% margin), FWRD has room to improve margins relative to the peer group. Compare FWRD vs ARCB →
FWRD Earnings vs Peers
Earnings metrics vs comparable public companies
FWRD Historical Earnings Data (1993–2025)
33 years| Fiscal Year | Net Income | YoY % | Operating Income | EPS (Diluted) | Net Margin | Op. Margin |
|---|---|---|---|---|---|---|
| 2025 | -$108M | +86.8% | $36M | $-3.48 | -4.3% | 1.5% |
| 2024 | -$817M | -588.2% | -$1.06B | $-29.66 | -33.0% | -43.0% |
| 2023 | $167M | -13.4% | $88M | $0.43 | 12.2% | 6.4% |
| 2022 | $193M | +82.5% | $248M | $7.14 | 11.5% | 14.7% |
| 2021 | $106M | +346.0% | $147M | $3.85 | 7.6% | 10.6% |
| 2020 | $24M | -72.8% | $74M | $0.84 | 1.9% | 5.8% |
| 2019 | $87M | -5.4% | $112M | $3.04 | 7.2% | 9.3% |
| 2018 | $92M | +5.4% | $122M | $3.15 | 7.0% | 9.2% |
| 2017 | $87M | +215.6% | $109M | $2.89 | 7.9% | 9.9% |
| 2016 | $28M | -50.2% | $60M | $0.90 | 2.8% | 6.1% |
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Start ComparisonFWRD — Frequently Asked Questions
Quick answers to the most common questions about buying FWRD stock.
Is FWRD growing earnings?
FWRD EPS is $-3.48, with earnings growth accelerating to +88.3%. This exceeds the 5-year CAGR of N/A. TTM net income reached $-91M.
What are FWRD's profit margins?
Forward Air Corporation net margin is -4.3%, with operating margin at +1.5%. Below-average margins reflect competitive or cost pressures.
How consistent are FWRD's earnings?
FWRD earnings data spans 1993-2025. The accelerating earnings trend is +88.3% YoY. Historical data enables comparison across business cycles.